two year programme - mfaa approved - simply mentoring · application, please contact karen...
TRANSCRIPT
Application for Mentoring in Mortgage
Broking
Two year programme - MFAA approved
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APPLICATION OVERVIEW The information in this application will be used to enable Simply Mentoring (SM) to assess your suitability to be a part of our mentoring programme. Not everyone is coachable and some people enter mentoring because of the “have to’ approach. We are keen to mentor brokers that genuinely require a ‘guide from the side’ and will complete all tasks given to them over the two years. Our reputation depends on your success, so we take our role very seriously. If accepted you will be required to submit weekly reports and complete case studies as required. Your first twelve loans will be vetted by Simply Mentoring and can only be submitted if SM has agreed that they meet the minimum standards required. Information in this application must be true and correct to the best of your knowledge. You will be asked to make a declaration to this effect. We reserve the right to contact any referees or training organizations to ascertain your suitability to the programme. If you have any queries relating the completion of this application or our assessment of your application, please contact Karen Hambleton-O’Grady on 0408943903
Before we go any further, please complete the following questionnaire with relation to your
coach-ability
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HOW COACHABLE ARE YOU? Please circle the number that closely represents how true the statement is for you right now. Then score yourself using the key at the bottom of the page. It is essential that you determine if you are at the place in your life and business where you are coach-able. This test helps your mentor, and you, to discover how coach-able you are... right now.
PLEASE BE HONEST WITH YOURSELF!
LESS>>>>>>MORE TRUE STATEMENT
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I can be relied upon to be on time for all calls and appointments
I return all phone calls within acceptable time frames
This is the right time for me to accept mentoring/coaching
I am fully willing to do the work and let the mentor/coach do the coaching
I keep my word without struggling or sabotaging
Now is the time for me to grow through personal change
I will make time to undertake self assessments and agreed assignments
I am prepared to try new concepts I may not feel comfortable about and
report back the outcomes
I believe I am in ‘sales’ not finance
I want to develop better interpersonal relationships
I am prepared to set and accomplish S.M.A.R.T.** goals
**Specific, Measurable, Agreed to, Realistic, Time-bounded Goals
I will tell the truth to myself and to my mentor/coach
I want to achieve measurable results from mentoring
I feel that I am good at receiving feedback and adjusting to it
I am someone who can share the credit for my success with the
coach/mentor, by acknowledging myself
TOTAL SCORE
(add up all the numbers to one total)
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SCORING KEY
14-28
Not very coach-able right now- (we might need to chat before you fill in the application form)
29-42
Coach-able, but make sure the ground rules are honored
43-56
Coach-able (please fill in the application form)
56-or over Very Coach-able, ask the mentor/coach to demand a lot from you (we match perfectly please continue)
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The purpose of this quiz it to ascertain your retained knowledge now you have completed
Certificate IV in Mortgage broking
There is small test and a self assessment for you to complete so that we are aware of your current
knowledge level.
Questions;
What does LVR stand for?___________________________________________________
What does LMI stand for and when does it
apply?___________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
What is the difference between genuine and non genuine
savings?_________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
What does redraw
mean?___________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
What is the difference between Principal and Interest and Interest only
repayments?______________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
What would be at least one reason that a customer would choose to fix their interest
rate?____________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
What does cross securitisemean?_____________________________________________________
Calculate the following LVR’s
Property Value $400,000 Loan amount $360,000 = LVR
Property value $750,000 Loan amount $562,500= LVR
Self Skills Assessment How confident are you in the following areas
Subject area Confidence Level What are your learning needs Office use only
Introduction to the Australian Mortgage Industry: History of the Industry; Licensing and Accreditation; Mortgage Broker Requirements; Finance and Real Estate Terminology; Industry Bodies and Related Organisations.
Low Medium High
Lending Institutions and Loan Types: Banks; Credit Unions; Building Societies; Securitised Lenders; Non-Conforming Lenders; Owner Occupied Mortgage; Residential Investment Mortgage; Bridging Finance; Residential Business Loans; Personal Loans; Commercial Lending; Deposit Bonds; Lender
Low Medium High
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Peripherals.
Loan Fundamentals: What Influences Interest Rates; Core Lending Products; Loan Features and Packages; Risk Management through Insurance; Negative Gearing.
Low Medium High
Lending Fundamentals and Ethics: The Initial Assessment; The Five C’s of Credit; Employment/Income Considerations; Qualifying Rates; Debt Servicing Ratio (DSR); Net Servicing Ratio (NSR); Loan to Value Ratio (LVR); Lender’s Mortgage Insurance (LMI); Loan Serviceability Calculators; Statement of Position; Risks and Mitigants; Credit Reports; Non-Resident Lending; Ethical
Low Medium High
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Considerations.
The Loan Process – From Interview to Settlement: Client Needs Analysis; The Application; Submission and Approval; Settlement; Roles of Each Party; Residential Mortgage Process Diagram; Record Keeping; Filing Systems; Finance Software; Commission Payments.
Low Medium High
Calculation of Fees; Use of Grants and Concessions: Stamp Duty and Other Duties; Miscellaneous Fees; State-Specific Grants and Concessions.
Low Medium High
Understanding Financials and Corporate Entities: Balance Sheet; Profit and Loss Statement; Corporate Entities; Self-Employed Client and Case Study.
Low Medium High
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Productivity and Marketing Skills: Now You Are a Mortgage Broker; Time Management Strategies; Goal Setting Techniques; Effective Communication; Prospecting for Mortgage Business; Prospect Enquiry Strategies; Interviewing Techniques; Client Retention Program.
Low Medium High
I, (please insert full name), present this application to Simply Mentoring to assess my suitability to be mentored by Simply Mentoring. I note by completing this application, it does not authorise me to provide finance broking activities under Simply Mentoring. Completion of this application does not guarantee representative status with Simply Mentoring and in no form or way am linked to Simply Mentoring until agreements are signed between Simply Mentoring and me if mentoring status is approved.
Please provide the information as per the questions below:
PART 1 - ALL PARTS MUST BE COMPLETED
Details
Applicant’s name:
Applicant’s residential address
Applicant’s driver’s license number License Expiry Date
Applicant’s date of birth
Australian Resident:
Yes/No (please delete one)
Applicant’s business name if applicable
ABN
Business address
Mailing address
Telephone Facsimile
Mobile telephone number Email address
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PART 2 – ALL PARTS MUST BE COMPLETED
Broker business and training details
Current primary business activity: eg
real estate agent, financial planner
Other business activities:
Years in current business
Do you have any lending experience
If yes: how long and details please
Why do you want to enter mortgage broking?
Have you applied for any professional memberships e.g. MFAA,COSL as yet
Have you completed Certificate IV or Diploma in Finance- please indicate
which one
Did you do face to face or online
training?
Date of completion
What is the name of the registered training organization that conducted
(or is conducting) your mortgage training
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Name of your trainer/assessor
Do you intend to be a mortgage broker
part time or fulltime.
If part time; what other activities will
you be engaged in whilst broking.
Do you need to keep your current job whilst you are getting up and running or have you allowed for the “cash gap” ?
How many days/hours per week do you intend to dedicate to your mortgage
broking business
Names and contact details of two
referees from your business
associations.
Have you attached a copy of your
resume
We ask you please provide a brief outline of your proposed mortgage business (eg. type of
business, proposed staff, geographical and lending areas of operation).
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
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What goals do you have for your mortgage business?
Current and Future
growth__________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________
Annual income wanted/expected from mortgage broking
________________________________________________________________________________
________________________________________________________________
Are you attached to a broking business or are you an independent
operator.________________________________________________________________
Do you intend to apply for your own license?__________________________
If not; under whose mortgage broking license will you be
operating?_____________________________________________________
How long have they been operating?________________________________
Are you attached to an aggregator? If yes please provide details and name and contact details of
your business or relationship manager.
________________________________________________________________________________
________________________________________________________________________________
______________________________________________________
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The following information refers to your current income, types of business you have dealt with
in the past or currently associated with.
Provide a “Yes or No” answer to each question next to the relevant question.
If you answer “Yes” to any questions, please supply relevant details in a separate statement
marked “Annexure A”.
Answers
Have you within the last 10 years –
(a) Been refused the right or restricted in the right to carry on
any trade, business or profession for which a specific license,
registration or other authority is required or granted by law?
(b) Been known by any name or alias other than the name shown in
Part 1 of this application?
(c) Directed, advised or carried on business under any other name
than the names shown Part 1 of this application?
(d) Been convicted of any offence, other than a traffic offence, in
the State/Territory or elsewhere
(e) Been declared bankrupt?
(f) Have you ever had any complaints or lawful actions/ legal proceedings
taken against you by clients, partners, directors or any other interested party?
(g) Have you had any accreditation cancelled/ suspended by any lender?
(h) Have you had your association with any aggregator or loan writing company
suspended or cancelled?
(i) Have you had any party make an enquiry to ASIC as to your good standing as a fit
and proper person?
(j) Are you aware of any reason that a lender would not offer you accreditation?
If you have answered yes to any of the above questions please give full
details___________________________________________________________________________
____________________________________________________
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In addition to your licensing qualifications, please list other qualifications and current study being
undertaken, listing institutions and dates (attach copies of any certificates or completed education) which
may be relevant to this application
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
Please provide a brief explanation for your reasons of applying to become mentored by Simply Mentoring
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
PART 3
Identification
A copy of a driver’s license will be sufficient for identification purposes. However should you not hold a driver's license please arrange other suitable identification with photo. Your Name:
Your Signature: Date:
Signed for and on the behalf of:
Simply Mentoring – Karen O’Grady
Signature:
Date:
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DECLARATION & CONSENT
I declare the above information provided is true and correct to the best of my knowledge. I agree to
notify if my circumstance change between the time of this application and its acceptance by Simply
Mentoring by contacting the head office of Simply Mentoring on 0408943903 or fax 08 95376589 or email
I acknowledge that the application process with Simply Mentoring for mentoring will take up to 14 days
as long as all information requested has been provided.
On request I will forward additional information required to the relevant departments of Simply
Mentoring. Failure to provide this additional information may affect the above application.
I give permission to Simply Mentoring to investigate that the details I have provided are true & correct. I
give permission for Simply Mentoring to contact my referees for the purpose of ascertaining suitability to
the mortgage industry.
Dated this _______________ day of _________________________ 20______
Signature of Applicant ____________________________________
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Approvals (office use only) Signed for and on behalf of Simply Mentoring (ABN 52032156491) Name of person signing
Manager Signature Date
Comments
Approved/Not approved
On behalf of Simply Mentoring Date
Applicant informed of outcome
Appeal pending yes/no
IF SUCCESSFUL WE WILL REQUIRE THE FOLLOWING
Please ensure the following items are completed and provided within seven days of the acceptance of your application.
Copy of Police Clearance (no more than six months old) Copy of Professional Indemnity Insurance (minimum cover $2million)
Copy of MFAA membership or indicate when you applied They will require us to sign the
Mentor declaration
Letter from aggregator confirming your acceptance as a member with them. Copy of current drivers license or passport Copy of application for ASIC credit license (if applicable)
Copy of Anti Money Laundering Certificate (AML)
Signed contract between SM and yourself (this will be sent to you)
PO Box 684 Pinjarra, WA 6208. Phone 0408943903 email [email protected]
www.simplymentoring.com.au